Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
Union Culture Minister Mahesh Sharma on Thursday said demonetisation was not a requirement but a compulsion and opposition leaders were trying to mislead people for their own interest.
“Demonetisation was not a requirement but a compulsion. (Prime Minister Narendra) Modi chose the difficult path without think about the political outcome,” said Sharma at the 112th annual session of PHD Chamber of Commerce.
“There have been some difficulties for the people, but it was big blow to the fake currency holders and Maoists,” he added.
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About Good and Services Tax (GST), Sharma asked: “Shouldn’t there be one nation-one tax in a fast-growing economy. One nation, one tax is a necessity.”
He also said India’s economic growth is in the right path.
“Every global organisations including International Monetary Fund have said that India’s economic growth is in the right path. The Finance Minister had mentioned that the economy will eventually go up to 10 per cent growth,” he added.
“FDI has also increased. In terms of tourism worldwide, the growth is 4.6 per cent, our growth this year has been 17.3 per cent. (Opposition) Politicians are trying to mislead people for their own interest. Demonetisation, GST… people have supported it.”
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